How To Track Your Progress With Money Saving Challenges And Budgeting

As financial experts, we here at Texas Car Title and Payday Loan Services, Inc. can’t stress enough the importance of budgeting and doing money-saving challenges. But do you know what’s even more important? Tracking your progress as you go!

Not only will you know exactly where your money goes, but you will also be able to analyze your spending, identify areas of your budget that need improving, set better financial goals, and build better habits when it comes to your money.

The good thing is there are a variety of ways that you can track your growing progress when you do decide to start budgeting or when you pick a money-saving challenge to participate in. So, if you are ready to start tracking your progress with some money-saving challenges and budgeting tips, keep reading this article right now!

5 Best Ways To Track Your Progress When Saving Money

The savings rate in the United States is not looking too good, with most Americans saving less money. In a time of economic uncertainty, it’s important to keep your finances in check – and that’s probably one of the reasons why money-saving challenges have started to trend on social media for everyone to see. And there are plenty for you to choose from.

However, If you do decide to participate in one, it’s essential to track your progress so that you know if the saving challenge you participate in works for you or not. Seeing growing progress will also keep you focused and motivated to keep going. Here are five effective ways to track your progress during a money-saving challenge or when budgeting your finances.

1. Budgeting Apps

Using a budgeting app is one of the easiest ways to track your savings, as most apps automatically import your transactions when you link your bank accounts; some even create a report for you, making tracking effortless. Like with other services, some budgeting apps are free while others require a monthly fee to access all of their features. Some popular budgeting apps include YNAB, Goodbudget, EveryDollar, Empower, and PocketGuard.

2. Spreadsheets

Sure, using spreadsheets is an old-school way to stay on top of your finances, but its effectiveness cannot be denied, especially if you’re not too tech-savvy. All you have to do is create a file on Excel or Google Sheets, enter your goal, and manually input your progress every time you add money to your savings. You can also opt to use a pre-designed spreadsheet that includes simple equations to make tracking easier and more convenient.

3. Planners

A planner would work well with those who journal or those who prefer handwriting their continual progress down. There are plenty of budgeting planners easily available just about anywhere you go. Not only do they help you track your money-saving progress, but they also help you stay on top of other essential things such as important dates, to-do notes, and so on.

4. Printable Worksheets Or Visual Trackers

Worksheets and visual trackers are another fun way to track your progress during a money savings challenge. You can work with them digitally so they’re easily accessible through your phone and laptop.

If you are the type of person who likes to write things by hand, you can also choose to print them if you prefer putting them by your home desk or up by the fridge. Whichever option you choose, the trick is to get your progress down where you can see it and easily track it.

5. Manual Tracking

Believe it or not, what works for some people is when they write everything down manually. They prefer keeping tabs on their progress in a way that they will understand best. If you use manual tracking, just be sure to be diligent with recording everything – write down the date, amount, and other important notes so you don’t forget anything about your finances.

Have An Emergency? Let Title Loans Help You Out

As mentioned, we currently live in an uncertain economy, which is why, despite efforts to save money, there will always be instances wherein you will be faced with urgent expenses that are outside of your budget. At Texas Car Title and Payday Loan Services, Inc., we understand this hardship, and that’s why we offer title loans – a great way to access some much-needed cash when you’re faced with financial challenges.

One of our short-term loans is our title loan where you only need your driver’s license, proof of income, a lien-free title of your vehicle, and your vehicle (for inspection) to get started. The loan process can be started in two convenient ways, online or at another location of your choosing – no store visit is ever required, even though we have plenty of Texas store locations for you to choose from. If approved, you can get up to $15,000.

Start Tracking Your Progress Right Now

It’s great that you’re budgeting your finances or participating in money-saving challenges. But don’t forget the most important part - tracking your progress. Tracking your progress will encourage you to stay organized, focused, and motivated.

There are plenty of ways how you can do so, just find the method that best works for you! If you have an emergency, remember we are here to help. Fill out the online application on our website to learn more about our title loans right now.

 

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.